Minnesota Statutes 317A.213 – Classification of Directors
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(a) Except as provided in paragraph (b), directors may be divided into classes.
Terms Used In Minnesota Statutes 317A.213
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) Directors of a corporation described in section 317A.811, subdivision 1, may not vote by class except when the articles or bylaws provide that only one class of directors may vote on a particular matter.